Macquarie Textiles site going, almost gone

THE sale of the Macquarie Textiles site in East Albury is likely to be finalised soon.

The 3.89-hectare property had been on the market since December, offered via an expressions of interest process.

There’s a sold sticker on a sign at the site advertising the property.

But real estate agent Kel Barclay said the sale had not been finalised.

“Contracts have been exchanged, but it hasn’t settled yet,” he said.

Mr Barclay said he could not provide more details about the sale — including the buyers of the property — until this was finalised.

“It’s been quite a long process,” he said.

“It will probably settle in the middle of May.”

Macquarie Textiles began operating at the East Street site in 1924 under the name of Amalgamated Textile Mills.

The site is expected to be vacant by the time settlement is reached.

There are three large buildings — 9725 square metres of factory space, 1055 square metres of office space, 6150 square metres of warehousing — and 140 car spaces, on a site zoned for general industrial.

At the time the site was first listed, Mr Barclay described it as a “great opportunity” to get a large property so close to Albury’s central business district.

Macquarie Textiles recently abandoned manufacturing on the Border.

It was revealed late last year that, instead of dyeing and finishing in Albury, the company would import material from China and India.

The company has drastically reduced its workforce over the years — from 400 staff in 1990 to less than a dozen.

Its origins date back as far as 1868.

The Border Mail did not receive a response to a request for comment from company secretary Craig Dempster.